In double-entry bookkeeping, each entry is recorded as twice as much t

QUESTION

In double-entry bookkeeping, each entry is recorded as twice as much the original amount.

Indicate whether the statement is true or false.

ANSWER

Answer: FALSE
Explanation: With double-entry bookkeeping, the same entry is recorded twice but as both a credit and a debit. The total of all debits must equal the total of all credits.